Square (SQ) Given New $95.00 Price Target at Needham & Company LLC

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Square (NYSE:SQ) had its price target lifted by Needham & Company LLC from $75.00 to $95.00 in a report published on Thursday, Marketbeat reports. Needham & Company LLC currently has a buy rating on the technology company’s stock.

A number of other analysts also recently issued reports on the company. Mizuho raised their price target on Square from $90.00 to $95.00 and gave the stock a buy rating in a research report on Thursday. Cantor Fitzgerald restated an overweight rating and issued a $91.00 price target (up from $76.00) on shares of Square in a research report on Thursday. UBS Group downgraded Square from a positive rating to a neutral rating in a research report on Thursday. Citigroup upgraded Square from a neutral rating to a buy rating and set a $90.00 price target for the company in a research report on Tuesday. Finally, SunTrust Banks raised their price target on Square to $74.00 and gave the stock a buy rating in a research report on Wednesday, October 17th. They noted that the move was a valuation call. Three investment analysts have rated the stock with a sell rating, fourteen have given a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. Square presently has an average rating of Hold and an average price target of $78.59.

SQ traded down $1.96 during trading on Thursday, reaching $73.27. The company had a trading volume of 17,258,235 shares, compared to its average volume of 13,558,816. The company has a market cap of $31.73 billion, a PE ratio of -732.70 and a beta of 4.30. Square has a 52 week low of $34.14 and a 52 week high of $101.15. The company has a quick ratio of 2.18, a current ratio of 2.18 and a debt-to-equity ratio of 0.99.

Square (NYSE:SQ) last issued its quarterly earnings results on Wednesday, November 7th. The technology company reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.02. The company had revenue of $431.00 million during the quarter, compared to the consensus estimate of $414.19 million. Square had a negative return on equity of 3.18% and a negative net margin of 2.30%. Square’s revenue was up 67.7% on a year-over-year basis. During the same period last year, the company earned $0.07 earnings per share. As a group, research analysts anticipate that Square will post -0.04 earnings per share for the current fiscal year.

In other news, CEO Jack Dorsey sold 103,035 shares of the firm’s stock in a transaction on Wednesday, November 7th. The stock was sold at an average price of $79.61, for a total transaction of $8,202,616.35. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Sivan Whiteley sold 1,875 shares of the firm’s stock in a transaction on Friday, November 2nd. The shares were sold at an average price of $77.70, for a total value of $145,687.50. Following the transaction, the insider now owns 121,708 shares in the company, valued at approximately $9,456,711.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,300,650 shares of company stock valued at $187,755,700. Corporate insiders own 27.99% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. CIBC Asset Management Inc increased its stake in shares of Square by 5.3% during the third quarter. CIBC Asset Management Inc now owns 14,784 shares of the technology company’s stock valued at $1,464,000 after buying an additional 738 shares during the period. Oregon Public Employees Retirement Fund increased its stake in shares of Square by 1.0% during the third quarter. Oregon Public Employees Retirement Fund now owns 75,472 shares of the technology company’s stock valued at $7,472,000 after buying an additional 754 shares during the period. Lincoln National Corp increased its stake in shares of Square by 13.7% during the second quarter. Lincoln National Corp now owns 6,327 shares of the technology company’s stock valued at $390,000 after buying an additional 764 shares during the period. Alpha Cubed Investments LLC increased its stake in shares of Square by 23.1% during the third quarter. Alpha Cubed Investments LLC now owns 4,208 shares of the technology company’s stock valued at $312,000 after buying an additional 791 shares during the period. Finally, IFP Advisors Inc increased its stake in shares of Square by 5.7% during the third quarter. IFP Advisors Inc now owns 15,264 shares of the technology company’s stock valued at $1,511,000 after buying an additional 818 shares during the period. Hedge funds and other institutional investors own 51.25% of the company’s stock.

About Square

Square, Inc provides payment and point-of-sale solutions in the United States and internationally. The company's commerce ecosystem includes point-of-sale software and hardware that enables sellers to turn mobile and computing devices into payment and point-of-sale solutions. It offers hardware products, including Magstripe reader, which enables swiped transactions of magnetic stripe cards; Contactless and chip reader that accepts EMV® chip cards and Near Field Communication payments; Chip card reader, which accepts EMV® chip cards and enables swiped transactions of magnetic stripe cards; Square Stand, which enables an iPad to be used as a payment terminal or full point of sale solution; and Square Register that combines its hardware, point-of-sale software, and payments technology, as well as managed payments solutions.

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